- Home
- Best lists
- Best Stocks for Credit Spreads: 10 High-IV Picks
Best lists
Best Stocks for Credit Spreads: 10 High-IV Picks
Ten credit-spread candidates ranked by IV rank, screened for the option volume that keeps a four-legged exit from costing more than the credit.
On this page
The short answer
Credit spreads want two things that often conflict: implied volatility rich enough to make the credit worth the risk, and options liquid enough that you can close the position without surrendering the profit to the bid-ask spread. A wide spread on an illiquid name quietly eats the edge that made the trade look good.
This screen ranks by IV rank — where current implied volatility sits within the name's own 52-week range — because that is the measure that tells you whether you are being paid above or below this stock's normal rate. It then requires real option volume, which is the part most high-IV screens skip and the part that decides whether your exit fill is acceptable.
ApexVol screens 417 optionable names for this list, requiring a $10+ share price and 5,000+ contracts of average daily option volume before ranking. Ranked by IV rank (percentile of current 30-day IV within its own 1-year range). Universe filtered to names above $5 with at least 1,000 contracts of average daily option volume, so both legs can be closed at a reasonable price.
Ranked at a glance
10 picks,
in order.
Ranked by IV rank (percentile of current 30-day IV within its own 1-year range). Universe filtered to names above $5 with at least 1,000 contracts of average daily option volume, so both legs can be closed at a reasonable price.
| Rank | Name | Key stat | Description |
|---|---|---|---|
| 1 | MDT | IV percentile 100 (IV 32.0%) | 30-day IV at 32% against a 20-day realised of 21%. Averages 21K contracts a day, so the short leg closes without a fight. |
| 2 | NU | IV percentile 100 (IV 54.7%) | 30-day IV at 55% against a 20-day realised of 49%. Averages 106K contracts a day, so the short leg closes without a fight. |
| 3 | NKE | IV percentile 97 (IV 49.0%) | 30-day IV at 49% against a 20-day realised of 21%. Averages 158K contracts a day, so the short leg closes without a fight. |
| 4 | FTNT | IV percentile 96 (IV 62.5%) | 30-day IV at 62% against a 20-day realised of 46%. Averages 8K contracts a day, so the short leg closes without a fight. |
| 5 | MRNA | IV percentile 96 (IV 100.2%) | 30-day IV at 100% against a 20-day realised of 73%. Averages 113K contracts a day, so the short leg closes without a fight. |
| 6 | PCVX | IV percentile 96 (IV 109.0%) | 30-day IV at 109% against a 20-day realised of 30%. Averages 5K contracts a day, so the short leg closes without a fight. |
| 7 | VLO | IV percentile 96 (IV 50.7%) | 30-day IV at 51% against a 20-day realised of 33%. Averages 16K contracts a day, so the short leg closes without a fight. |
| 8 | MPC | IV percentile 94 (IV 48.0%) | 30-day IV at 48% against a 20-day realised of 31%. Averages 6K contracts a day, so the short leg closes without a fight. |
| 9 | WHR | IV percentile 93 (IV 63.6%) | 30-day IV at 64% against a 20-day realised of 41%. Averages 9K contracts a day, so the short leg closes without a fight. |
| 10 | BURL | IV percentile 92 (IV 39.9%) | 30-day IV at 40% against a 20-day realised of 45%. Averages 7K contracts a day, so the short leg closes without a fight. |
-
MDT Top pick
30-day IV at 32% against a 20-day realised of 21%. Averages 21K contracts a day, so the short leg closes without a fight.
IV percentile 100 (IV 32.0%), measured 2026-09-30
Ideal for IV rank 100
-
NU
30-day IV at 55% against a 20-day realised of 49%. Averages 106K contracts a day, so the short leg closes without a fight.
IV percentile 100 (IV 54.7%), measured 2026-09-30
Ideal for IV rank 100
-
NKE
30-day IV at 49% against a 20-day realised of 21%. Averages 158K contracts a day, so the short leg closes without a fight.
IV percentile 97 (IV 49.0%), measured 2026-09-30
Ideal for IV rank 97
-
FTNT
30-day IV at 62% against a 20-day realised of 46%. Averages 8K contracts a day, so the short leg closes without a fight.
IV percentile 96 (IV 62.5%), measured 2026-09-30
Ideal for IV rank 96
-
MRNA
30-day IV at 100% against a 20-day realised of 73%. Averages 113K contracts a day, so the short leg closes without a fight.
IV percentile 96 (IV 100.2%), measured 2026-09-30
Ideal for IV rank 96
-
PCVX
30-day IV at 109% against a 20-day realised of 30%. Averages 5K contracts a day, so the short leg closes without a fight.
IV percentile 96 (IV 109.0%), measured 2026-09-30
Ideal for IV rank 96
-
VLO
30-day IV at 51% against a 20-day realised of 33%. Averages 16K contracts a day, so the short leg closes without a fight.
IV percentile 96 (IV 50.7%), measured 2026-09-30
Ideal for IV rank 96
-
MPC
30-day IV at 48% against a 20-day realised of 31%. Averages 6K contracts a day, so the short leg closes without a fight.
IV percentile 94 (IV 48.0%), measured 2026-09-30
Ideal for IV rank 94
-
WHR
30-day IV at 64% against a 20-day realised of 41%. Averages 9K contracts a day, so the short leg closes without a fight.
IV percentile 93 (IV 63.6%), measured 2026-09-30
Ideal for IV rank 93
-
BURL
30-day IV at 40% against a 20-day realised of 45%. Averages 7K contracts a day, so the short leg closes without a fight.
IV percentile 92 (IV 39.9%), measured 2026-09-30
Ideal for IV rank 92
Live data, refreshed October 1, 2026. October 2026 data refresh: rebuilt from 417 liquid names on the 2026-09-30 data snapshot. Top pick MDT at IV rank 100.
ApexVol Terminal
Options analytics, live.
Chains, IV rank, expected move and dealer positioning for 5,500+ US stocks and ETFs.
- Live chains and Greeks
- IV rank and percentile
- Expected move and GEX
- Screener and strategy P&L
Free on AAPL, no account. Trial: no charge if you cancel before it ends.
Try this with real market data. 5,500+ stocks, live options chains, IV analytics and P&L. 7-day free trial.
Run the numbers before you trade. P&L chart, breakeven & Greeks for any options trade. Free, no signup. Or model any multi-leg trade in the options profit calculator.
Options Profit Calculator- Written by
- ApexVol Research Team
Quantitative options research. All calculations use live institutional-grade data — the same source professional volatility desks use. - Reviewed by
- Ryan Silk, ApexVol Founder
Reviewed for technical accuracy. 10+ years trading options; built ApexVol's pricing engine, Greeks model and IV-rank methodology.
Revised as market conditions and institutional data change. Last revised 2026-10-01. How we research →
Questions
About this ranking.
What IV rank is high enough to sell a credit spread?
Most premium sellers want IV rank above 30, and prefer above 50. Below that you are taking defined-risk exposure for a credit that does not compensate for it. The number matters less than the direction: selling into the upper half of a name's own volatility range is the structural edge, not a specific threshold.
Why does option volume matter more for spreads than single options?
Because you pay the spread twice on entry and twice on exit — four crossings instead of two. On an illiquid name a $0.10 wide market on each leg can cost $40 per contract round trip, which is a meaningful share of a typical $100-150 credit. Liquidity is not a nicety here, it is part of the expectancy.
Put credit spread or call credit spread?
Put credit spreads are bullish-to-neutral and benefit from the volatility skew, which prices downside puts richer than equivalent upside calls. Call credit spreads are bearish-to-neutral and collect less for the same delta. Most of the structural premium in equity options sits on the put side.
How does this screen differ from a plain high-IV list?
A plain high-IV list ranks by absolute implied volatility, which just surfaces the same permanently-volatile small caps every month. Ranking by IV rank asks a better question — is this name expensive relative to itself right now — and the liquidity filter removes the names you could not trade out of anyway.
The free weekly IV report. IV rank movers, volatility notes and options market analysis, weekly.
No account needed. Unsubscribe any time.
Keep reading
Where this list
points next.
Read next
Run it, do not just read it
Read the ranking.
Then price the trade.
Every figure on this page comes from the same institutional data the Terminal runs on. Open it on AAPL and check the chain yourself, no account needed.
Real market data, not a sandbox. See it live on AAPL.